Registration Statement Effective, Evernorth Plans Nasdaq Listing via SPAC Merger

Odaily News – Evernorth Holdings announced that its S-4 registration statement filed with the U.S. Securities and Exchange Commission has become effective. The company will proceed with the next steps toward a Nasdaq listing through a merger with special purpose acquisition company Armada Acquisition Corp. II. The effectiveness of the registration statement does not mean the merger has been completed; the transaction remains subject to shareholder approval. Evernorth Holdings plans to operate as a regulated digital asset treasury company, providing public market investors with exposure to XRP and deploying funds into XRP-related infrastructure and treasury strategies to increase the amount of XRP per share. The company expects the merger to be completed by the end of the third quarter or early in the fourth quarter of this year. Following the completion of the transaction, the combined company intends to trade under the ticker symbol XRPN. The S-4 filing covers up to 34,499,992 shares of Evernorth Class A common stock and 11,499,992 related warrants. Evernorth Holdings' investors include Ripple, Arrington Capital, SBI Group, Pantera Capital, Kraken, and GSR, among others.